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NQ Minerals resource estimate confirms potential of Beaconsfield gold project

"Beaconsfield is a rich gold deposit with genuine scale,” said chairman David Lenigas

NQ Minerals PLC - NQ Minerals resource estimate confirms potential of Beaconsfield gold project

NQ Minerals PLC (LON:NQMI) has unveiled a new resource statement for the Beaconsfield gold mine in Tasmania.

Total resources rise to 1.454mln tonnes at a grade of 10.3 grams per tonnes (g/t), for 483,000 ounces gold. There are 354,000 ounces in measured and inferred resources, 485,000 tonnes at 11.4 g/t in measured for 177,000 ounces and 492,000 tonnes at 11.2 g/t in indicated for 177,000 ounces.

A further 477,000 tonnes at 8.4 g/t remains in the inferred resource category, and, the company told investors that significant additional gold potential is still to be assessed.

READ: NQ Minerals upgrades Barnes Hill nickel resource

"Beaconsfield is a rich gold deposit with genuine scale,” NQ Minerals' chairman David Lenigas said in a statement. “The deposit is open at depth and there is significant potential to increase these resources with further drilling."

He added: “The publishing of this new resource statement clearly demonstrates the huge underlying potential at Beaconsfield and highlights the immense scope for ongoing growth in the gold inventory as NQ moves this mine forward back in to production.”

Lenigas said he believes Beaconsfield offers a genuine opportunity for the company to rapidly develop a high-quality gold asset.

“We are almost complete with our due diligence process on this asset and are focused on bringing this famous and iconic Tasmanian gold mine back into production," the chairman added.

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Price: 6.75 GBX

Market: AQSE
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